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MULTIFAMILY NEWS
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San Fernando Valley Apartment building Goes for $450k/Unit

7/10/23

In a recent apartment sales comp from the San Fernando Valley, an eight-unit property in Sherman Oaks sold for $3.6 mil, or $450k/unit. We’re told this deal marks a record-high price-per-unit for a rent-controlled apartment building in the 91403 zip code.

Built in 2014, the 8.6k sf property is located at 4737 Kester Ave, just south of the 101 Fwy. Within three blocks of Ventura Blvd, it is situated in a highly desirable area known for its walkability and proximity to an array of fine dining, shopping, and entertainment options.

Kidder Mathews’ Michael Monempour and David Saghian represented the seller, a private investor. The property generated multiple offers and sold to an all-cash buyer within three weeks of listing it.






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